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Should You File for Bankruptcy if a Strong Economy is Just Around the Corner

Titan Consulting

In many cases, you will lose secured assets such as your home and vehicles. Bankruptcy does not generally discharge debts associated with child support, alimony, tax obligations, or student loan debt. Federally managed student loans received an automatic six-month payment waiver.

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How Much Debt Is Needed to File for Bankruptcy?

Sawin & Shea

Whether you’re facing foreclosure , repossession, wage garnishments, or relentless creditor harassment, our expertise in bankruptcy law can offer the protection and relief you’ve been seeking. Bankruptcy filers with income below their state’s median can potentially qualify for Chapter 7 to discharge many debts.

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10 Common Questions About Bankruptcy

Debt Free Colorado

Chapter 13’s main advantage is that it stops creditors from bothering you and allows you to keep property subject to a security interest, provided you continue to make payments in the repayment plan. The following are some indications that you might be a good bankruptcy applicant: Are debt collectors following you around?

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What Debts Can Bankruptcy Eliminate: Examples of Unsecured Debt

Debt Free Colorado

These debts have no collateral, so creditors cannot take your property without going to court first. Late utility bills also count as unsecured debt. Some debts stay with you even after bankruptcy. Student loans, child support, recent taxes, and court fines must be paid in full.